Auction Terms & Conditions 2230 Brookwood Drive, Colorado Springs, CO
TERMS AND CONDITIONS
We would like to welcome you to the auction and the exceptional opportunity to participate in bidding on this fabulous piece of real estate. Homes in this neighborhood rarely come available and are highly sought after.
We have made every endeavor to provide thorough details and information about this property. Please take a moment to read the following terms and conditions which will act as a binding and legal agreement. Should you have any questions it would be our pleasure to assist you at any time.
This property may be viewed only during the open house dates. Due to COVID 19 restrictions only 3 people may be inside the home at a time. We appreciate your time and patience as we do expect there to be significant interest in this property and we will make every effort to accommodate all potential buyers.
Any special arrangements for inspections will be by appointment only.
Requests for special showings outside of the open house dates and times will be considered but may not be accommodated. A lockbox will not be available at this location.
1. This is an online only auction.
2. AUCTION END DATE AND TIME: June 14, 2021 / TIME: 4:00pm MDT
3. We highly recommend that registration be completed 48 hours prior to the auction to ensure that your approval requirements are met.
4. Bidders must complete all registration steps and bidder deposit requirements.
5. A $5,000.00 bidder deposit is required to bid in this auction. Deposit can be made by bank wire, credit card or check. For bank wire information visit our website auction calendar at www.SoldonCompass.com or contact us: 800.729.6466 Email: email@example.com.
6. A 6% buyer's premium will be added to the final bid amount for the final contract price.
7. Once registration steps are completed bidders will be placed in pending status until Compass verifies all requirements have been met. Approvals are completed M-F 8:00am-5:00pm EDT.
8. Compass reserves the right to accept, reject or deny any bidder if all requirements are not met or for any reason as they deem appropriate.
9. This auction is subject to seller's confirmation.
10. Online winning bidder should be prepared to submit a $10,000.00 Earnest Money Deposit within 24 banking hours following the auction and complete closing within 30 days. The $5,000.00 bidder deposit can be used as a portion of the earnest money deposit if submitted by bank wire.
11. This auction is "AS IS WHERE IS" and is not subject to financing, inspections, zoning, covenants, leases, easements, restrictions, or any other contingencies, environmental hazards, mold, radon, lead based paint or any defects whether known or unknown. Bidder responsible for verifying square footage and any other pertinent information deemed relevant by the prospective buyer. There are no warranties expressed or implied.
12. Bidders wishing to have an inspection performed will need to schedule the inspection at their own expense prior to the auction. Auction is not contingent on inspection as is being sold as is.
13. Compass, broker, and seller have made a diligent effort to provide accurate information, however will not be held responsible, and expressly disclaim any liability for errors, omissions or changes regarding any information provided for this sale.
14. This is a soft close auction. The bidding will extend by the established time each time a bid is placed until all bidding ends. We highly recommend that you do not wait until the final seconds to bid to ensure that your bid is received.
15. We recommend that you place your bid early. Compass, Berkshire Hathaway, nor seller will be held responsible for any disruptions in technology, software or any digital or data issues and will not be held responsible for any missed bids whatsoever.
16. Auctioneer reserves the right to enter bids on behalf of any absentee bidder, seller, or participant. Auctioneer has full discretion to modify the date, time, order, and details of the auction for any reason whatsoever, including but not limited to technical issues, emergencies, convenience.
17. Auctioneer or Seller reserves the right to add or delete property or cancel the sale prior to auction.
18. Successful winning bidder should be prepared to sign the auction sale contract via e-signature immediately following the auction. A link to the sample contract will be provided in the auction attachment link section.
19. Deed: General Warranty Deed
20. Taxes to be prorated.
21. Possession with passing of the Deed at closing.
22. Buyer pays all closing cost. Closing to occur on or before July 14, 2021. Closing entity to be determined by seller and Compass Auctions & Real Estate.
23. BROKER/AGENTS: We welcome broker participation. Forms must be completed, and clients MUST be registered before 11:00am-MDT. We highly recommend that you enroll your clients at least 48 hours prior to the start of the auction and ensure that clients have completed all of the registration steps to bid in this auction. Deadline for broker participation enrollment forms is Sunday, June 13, 2021 @8:00pm MDT. The broker enrollment agreement must be completed and can be found at www.SoldonCompass.com auction calendar for this auction. Should you need assistance contact us: 800.729.6466 M-F 8am-5pmEDT.
******BROKER DEADLINE EXENDED******: Brokers MUST submit the Compass broker participation form no later than Sunday June 13th @8:00pm MDT
***Brokers should not register and bid on behalf of their clients without a Power of Attorney stating they have the legal right, power and agreement to do so. The registered auction bidder is the party financially responsible for closing on the property.****
24. Compass Auctions & Real Estate, LLC bring this real estate to auction in conjunction with Broker Berkshire Hathaway HomeServices Synergy Realty Group.
AUCTIONEER ONLINE BIDDING SERVICES:
Compass Auctions & Real Estate, LLC
3114 Freeman St.
Chattanooga, TN 37416
800.729.6466 (corporate office)
Berkshire Hathaway HomeServices Synergy Realty Group
5225 N Academy Blvd #301
Colorado Springs, CO 80918
(Terms and Conditions condensed version are numbered above this section full expanded terms and conditions are below this section)
Full Expanded General Terms and Conditions
Acceptance of Terms & Conditions. By registering to participate in the bidding process for the above asset, you are agreeing to the following terms & conditions: $10,000.00 earnest money down day of auction. Good check, bank wire, or good funds due for earnest money deposit, balance due for closing on or before July 14,2021. Taxes to be prorated. Possession with passing of Deed at closing. Property is being sold "As-Is" with any and all faults. There are NO warranties expressed or implied by Compass Auctions & Real Estate LLC, broker or by the seller. Buyer responsible for verifying square footage, acreage, zoning regulations, and any and all other pertinent information deemed relevant by the prospective buyer. Buyer shall be responsible to conduct any and all inspections buyer deems necessary at buyer's expense prior to the auction date. There are NO Contingencies to this sale. Announcements made day of sale take precedence over previous advertising. There is a 6% Buyer's Premium for this sale. Therefore, 6% of the highest bid will be added to the final bid to achieve the total contract price.
Bidder Registration Qualifications: Bidder must fully register with Compass Auctions & Real Estate LLC agreeing to all terms and conditions. A Valid government-issued picture ID. Proof of funds - If paying cash at close you will need your most recent bank statement. If financing, you will need your loan commitment documents on bank or lender letterhead. Documents will be required 24 hours following auction. Articles of incorporation, trust documentation or other proof of signing authority (for those taking title in a company name or trust only). If you are bidding on behalf of someone, you must provide a notarized specific power of attorney authorizing you to bid and execute documents for the purchaser for their specified properties of interest.
Auction Day Bidding Process: Online Bidders - when using the online bidding platform, any online bid submitted should be considered as binding and pending and the auctioneer record will control.
Broker/Agent Participation Qualifications: Participating Broker/Agent must enroll prospective bidder using Compass Broker/Agent Form no later than June 12, 2021 at 11:00 am MDT. Participating Broker/Agent must ensure prospective bidder meets all bidder registration qualifications. No exceptions. If auction is a live event Broker/Agent must attend auction event with prospective bidder to qualify for compensation. Broker/Agent must register bidder prior to any inspections of the property. No Broker/Agent will be recognized for a prospect that is currently working with Compass Auctions & Real Estate LLC. Brokers should not register and bid on behalf of their clients without a Power of Attorney stating they have the right, power, and agreement to do so. The registered auction bidder is the party financially responsible for closing on the property.
Buyer pays all closing cost. Closing to occur on or before July 14, 2021. Unless otherwise agreed to extend by seller in writing. Closing attorney to be determined by seller and Compass Auctions & Real Estate. Should buyer fail to close on the property the earnest money deposit will be forfeit.
Registration for the auction whether bidding online or in person is representation that each bidder has read and agrees to adhere to the terms outlined and is in agreement to the terms and conditions of the sale as stated in the contract and its addenda. By bidding you are representing to Compass Auctions & Real Estate, llc. (Compass) Broker and the seller that you have read and agree to be bound by the terms and conditions for the sale as stated. DO NOT BID unless you have read and agreed to be bound by the terms of sale in the Contract as they are enforceable to you upon becoming a high bidder.
All properties are sold "AS IS - WHERE IS" with no financing, inspection or other contingencies to sale with any and all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning and all other matters revealed by a current survey or an inspection of the property and contained in public records. The property will sell as is where is with no warranty, express or implied, as to soil condition, environmental and wetlands, zoning and improvements. Information contained herein is believed to be from sources deemed reliable but there are no warranties expressed or implied by Compass, Broker or seller. Seller reserves the right to add or delete property or cancel the sale prior to the auction.
The auctioneer will have sole discretion when to close the bidding for this auction. This auction has a soft close feature which will extend by a pre-determine amount of time when a bid is placed and will extend until all bidding has stopped.
Compass Auctions & Real Estate, llc has full discretion to modify the date, time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Compass Auctions & Real Estate, llc.
The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate, or break down lots and/or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding, to accept or reject any or all bids, and to cancel or re-schedule an auction. The Auctioneer will call the sale whether live or online and control any increments of bidding. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee bidders, seller, or participant. Any mistakes during bidding as to who has the high bid and/or at what price may be called to the Auctioneer's attention and addressed. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.
Compass Auctions & Real Estate, llc and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Please read the agreement and terms for a full and complete understanding of Compass Auctions & Real Estate, llc and Seller's disclaimers. Bidders are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the Seller or their agents and employees. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.
Your inspection of the property/properties and attendance at this auction are at your own risk. Auctioneer, Broker and Seller, their agents, and employees, expressly disclaim any "invitee" relationship and shall not be liable to any person for damage to their person or property while in, on or about these properties or auction premises, nor shall they be liable for any defects, dangers or conditions on the property/properties. All persons enter the property, properties, premises and attend the auction at their own risk and shall defend, indemnify, and hold harmless Auctioneer, Broker and Seller, their agents and employees, from any and all liability attendant thereto. This is a public auction and video, audio, images and media are being recorded and may be used in future marketing campaigns. Compass Auctions & Real Estate, llc. By attending the auction in a public environment is your consent for the use of these likenesses and images of any and all media without compensation or liability. NOT responsible for accidents or injuries of any kind for any reason.
Online Bidding platform service provider, Compass Auctions & Real Estate, llc. Broker and the Seller are not responsible for technical difficulties during online or remote bidding. The online bidding platform software may be unable to submit bids in the live auction due technical difficulties arising for any reason, without limitation, the lack of sufficient communication infrastructure at the location of the live auction. Online bidders are advised to place an absentee bid at least 24 hours prior to the live auction to ensure their bid is entered into the live auction on the online bidder's behalf. Compass Auctions & Real Estate, llc. Will not be held responsible for any missed bid from any source for any reason whatsoever. We encourage you to enter your max bid in the system to ensure that your bid is recognized.
In the event of any conflict between any service providers Terms & Conditions of Service and the Compass Auctions & Real Estate, llc. Terms & Conditions of Sale, the Compass Auctions & Real Estate, llc. Terms & Conditions of Sale shall control in each instance.
Buyer and or Bidder agrees to hold harmless and indemnify Compass Auctions & Real Estate, llc and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc
DO NOT BID unless you have read the Compass Auctions & Real Estate, llc. Terms & Conditions of Sale, the Contract for Sale, Property Disclosures, and the Auction details for each property. BY REGISTERING AND PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE CONTRACT FOR SALE, DISCLOSURES, AUCTION DAY DETAILS, AND THE COMPASS AUCTIONS & REAL ESTATE, LLC. TERMS & CONDITIONS OF SALE.
Compass Auctions & Real Estate, llc is providing the online bidding platform and is not responsible for representations made by seller or broker or any other source. Buyer agrees to hold harmless Compass Auctions & Real Estate, llc. From any and all litigation arising from a dispute between parties.
Auctioneer shall designate the winning bidder after each item is auctioned. If a dispute arises between two or more bidders, the Auctioneers reserve the right to reopen the bidding. The auctioneer's designation of a buyer shall be final.
Any and all disputes that require litigation shall be administered and shall be enforced and brought in The State of Tennessee, Hamilton County, and governed by the laws of the State of Tennessee. Compass Auctions & Real Estate, llc reserves the right to select the venue for the litigation proceedings whether by arbitration or litigation. Compass Auctions & Real Estate, llc Auctions reserves the right to receive compensation of any and all legal fees, collection fees and any other charges incurred by Compass Auctions & Real Estate, llc as a result of any legal action.
BY REGISTERING, BIDDING, AND/OR ATTENDING THIS AUCTION YOU AGREE TO ALL TERMS & CONDITIONS LISTED AS ACKNOWLEDGED AND SET FORTH BY COMPASS AUCTIONS & REAL ESTATE, LLC
FOR FURTHER INFORMATON PLEASE CONTACT COMPASS AUCTIONS & REAL ESTATE, LLC
800-729-6466 or firstname.lastname@example.org
Seller User Terms
Bidder User Terms